M&M sales down 15% in Oct
New Delhi: Auto major Mahindra & Mahindra today reported 15.39 per cent decline in total sales at 42,776 units in October.
It had sold 50,558 units in the same month last year, the company said in a statement.
M&M’s domestic sales declined by 15.71 per cent to 40,274 units last month as against 47,787 units a year earlier.
Sales of passenger vehicles including Scorpio, XUV 500, Xylo, Bolero and Verito stood at 19,254 units, compared with 22,924 units in October 2013, down 16 per cent.
Four-wheel commercial vehicle sales were down by 14.68 per cent to 14,812 units in October 2014 as against 17,362 units in the year-ago month, M&M said.
Exports were down by 9.7 per cent to 2,502 units from 2,771 units in the same period a year earlier.
M&M Chief Executive Automotive Division and International Operations (AFS) Pravin Shah said: “Our sales for the month of October remain subdued on the back of overall sentiment and high interest rates. However I’m happy with our retail sales this month which has helped bring the system stocks to an optimal level.”
He hoped that the recently announced deregulation of diesel prices will also support the auto industry.
“We are happy with the response to our New Generation Scorpio for which we are thankful to our customers,” Shah added.